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IMPORTANT NOTICE: PLEASE READ THIS ENTIRE PAGE CAREFULLY BEFORE YOU START USING THIS APPLICATION. YOUR NAME AND PICTURE APPEAR BELOW FOR ILLUSTRATIVE PURPOSES ONLY AND ARE ONLY VISIBLE TO YOU. YOUR NAME AND PICTURE APPEAR BELOW TO ILLUSTRATE HOW YOU CAN USE THE APPLICATION. THIS DOES NOT REPRESENT THAT YOU HAVE ENGAGED IN THE ACTIVITY DESCRIBED IN THE EXAMPLES BELOW.

Accessing


'Agree it' is third party application that is integrated with Facebook. You can access 'Agree it' by clicking on the logo in the top left hand corner of this page or by clicking on any of the tabs in the menu above except 'How it works' and 'Glossary',

If you are not already logged into Facebook you will then be asked to log in. This login page is part of Facebook not 'Agree it' therefore you are not giving your Facebook login details to 'Agree it'.

You will then be directed to a page with the 'Agree it' icon and your photo with the message 'Agree it will receive the following info: your public profile, friend list and current city' , followed by the option to click 'cancel' or 'OK'.

'Agree it' requires the the above for the following reasons:

Public profile: 'Agree it' will only use your photo and name to identify you and enable you to be identified by your friends when transacting with them.

Friend list: 'Agree it' requires your friend list in order to match you with other Borrowers, Lenders, Investors or entrepreneurs within your social network (or Social Graph as Facebook refers to it).

Current City: In order to set your default currency, 'Agree it' needs to determine your country of residence. Facebook stores this information as current city not as country of residence and only gives third party 'apps' like 'Agree it' the option to request your current city. Once you give 'Agree it' permission to access your current city, Facebook also provides 'Agree it' with your country residence. Unfortunately as of yet Facebook does not give third party apps like 'Agree it' to access your country of residence only, as soon as it does 'Agree it' will request only this.

PLEASE NOTE: 'Agree it' will not post anything to your Facebook 'News Feed' or send any alerts, messages, requests or invitations to your 'Friends' unless you instruct it to. When you join, the 'Agree it' icon will appear on your Facebook home page under 'Apps' and will only be visible to you. None of your friends will know that you have joined 'Agree it' unless you invite them or send them requests.

Given the above, If you are happy to proceed to 'Agree it' then click 'OK'. You will then be directed to your 'Agree it' home page.


Borrow


Clicking on |Borrow| allows you to make a new request for a loan from your friends. Currently you can request a 'bullet loan' where you specify the start date (when the funds are to be paid to you) and end date of the loan and where the full amount plus any interest (optional) is repaid to the lender.
Enter the the currency you wish to borrow in (see MY CURRENCIES later), Amount, Start date (when you need the money), Repayment date (when you will repay the loan), Preferred interest rate (per annum rate). In the 'Description' box you can give details of the purpose of the loan, you may also wish give details of how you would like to receive and repay funds for example Paypal, bank transfer, or in person (See Agreements below).
Now select friends that you wish to send your request to. You can increase your pool of potential lenders by ticking ' Allow selected friends to forward your request to their friends'. Click 'Submit' and your friends will receive your request in their Activity in the following format.

requested to borrow £1,000 @ 10% per annum from 31/01/2014 to 31/01/2015 View Detail
Make an offer to lend
If your friends have not yet joined 'Agree it' they will receive a notification of your request on their Facebook home page. Now simply sit back and wait for the offers to roll in!

Lend


Got some spare cash and looking for a better return? You can make a new offer to lend to your friends. Simply click on |Lend|...

Select the currency you wish to lend in, enter the amount you are looking to lend, the start date and end date of the loan and your preferred interest rate. In the 'Description' box you can give details on any additional terms for your lending, you may also wish give details of how you would like to pay and receive funds for example via Paypal, bank transfer, or in person (See Agreements below).
Now select the friends you wish to offer your loan to. You can increase your pool of potential borrowers by ticking ' Allow selected friends to forward your offer to their friends'. Click 'Submit' and your friends will receive your request in their Activity in the following format.

offered to lend £1,000 @ 30% per annum from 31/01/2014 to 31/01/2015 View Detail
Withdraw
If your friends have not yet joined 'Agree it' they will receive a notification of your request on their Facebook home page. Now sit back and watch your friends bid for your money!

Seek Funding


If you have a killer idea or need some additional funding for your existing business, click on |Seek funding| and you can ask your network of friends for funding in return for a share in the profits.
Enter the amount of funding that you require, the start date and the repayment date (when the initial funding plus any profit is to be repaid). You will also need to enter the 'Target Profit' that you expect from your venture (see below) and the percentage of the profit or 'Profit share' that you are prepared to offer to your friends (see below). Be sure to enter your business plan in the 'Description' box , you may also wish to provide details of how you would like to receive and repay funds e.g Paypal, bank transfer, or in person (see Agreements section below)
Now select the friends you wish to send your request to. You can increase your pool of potential investors by ticking ' Allow selected friends to forward your request to their friends'. Click 'Submit' and your friends will receive your request in their Activity in the following format.

requested funding of £1,000 @ 50% profit share to the investor from 31/01/2014 to 31/01/2015.
The target profit is £1,000
View Detail
Make an offer to invest

If your friends have not yet joined 'Agree it' they will receive a notification of your offer on their Facebook home page. Now sit back and wait for your friends to compete with each other to invest in your venture!

Invest


So you've got some spare cash and are looking for some potentially higher returns? Click on 'Invest'....
Enter ,the currency,amount to invest, start date, repayment date and the return or 'Net Target Profit' that you require (see later). In the 'Description' box you can give details on any additional terms for your investment, you may also wish to give details of how you would like to pay and receive funds for example Paypal, bank transfer, or in person (See Agreements below).
Now select the friends you wish to send your offer to. You can increase your pool of potential entrepreneurs by ticking ' Allow selected friends to forward your offer to their friends'. Click 'Submit' and your friends will receive your offer in their Activity in the following format.

offered to invest £1,000 @ net target profit of £1,000 from 31/01/2014 to 31/01/2015 View Detail
Make a request for funding
If your friends have not yet joined 'Agree it' they will receive a notification of your offer on their Facebook home page. Now sit back an watch business plans from your friends roll in as they compete with each other for your investment!

Target Profit


If you are requesting funding |Seek Funding| this is the amount of profit that you expect to return given the funding that you have requested AND given that your venture goes according to plan. Target Profit is NOT to be mistaken for actual profit, actual profit can only be determined at the end date or 'repayment date' depending on the success of the venture.

Profit Share


This is the percentage of the Target Profit that is offered by you to your friends in return for their investment. Similarly if you are an investor it is that share of the profit you request from your friends in return for your funding. For the purpose of this application in all cases: Profit Share=% of profit to the investor. Profit Share is negotiated and agreed from the outset.

Net Target Profit


Assuming that the 'Profit Share' has been negotiated and agreed, Net Target Profit is the amount of profit that will be paid to a specific investor on the repayment date (plus the initial amount invested) IF the 'Target Profit' is achieved.
For example an entrepreneur proposes a venture that requires an investment of £10,000 for a period of time, and at the end of that period the anticipated profit is £5000 (Target profit). An investor places £1000 with the entrepreneur at an agreed profit share of 50% . if the venture goes according to plan the investor should, on a pro-rata basis, receive a Net Target Profit of £250 = [ (1000/10,000) x5000 x(50/100)]. This in addition to the initial investment of £1000. Therefore on the agreed repayment date the investor should receive £1250 if the venture goes according to plan as anticipated by the entrepreneur. The entrepreneur will keep £250 of the profit for his efforts based of a 50% profit share.

Again for the purpose of this application and any agreements made through it 'Net Target Profit' is NOT guaranteed. On the repayment date the actual profit paid to the investor may be more OR less than the 'Net Target Profit' depending on the success of the venture.
If the venture returns a greater profit than originally anticipated (Target profit) then the actual profit paid to a particular investor should be greater that the 'Net Target Profit'. Similarly if the venture returns a lower profit than originally anticipated, the actual profit paid to a particular investor should be less than the 'Net Target Profit'. At the repayment date if the venture has made a loss then the investor may lose some or all of their initial investment. For the purpose of this application and any agreements for funding or investment made through it is only the Profit Share is agreed at the outset.

For the purpose of this application and any agreements for funding or investment made through it:

The investor is risking the entire amount of their initial investment and the recipient of the funding or investment is risking the effort and time devoted to the venture in addition their reputation as an entrepreneur within their network of friends. Profits are shared by the investor and the entrepreneur as specified by the profit share that is negotiated and agreed from the outset. Losses are wholly borne by the investor up to the level of their initial investment.

Net Target Profit %


This is simply the Net Target Profit stated as a percentage of the initial amount invested or to be invested. For example if the amount invested is £1000 , the Target Profit is £500 and there is an agreed profit share of 50% to the investor. Then the net target profit will be 25% = (50/100 x 500)/1000

Target Profit Rate


This is the Net Target Profit stated as a percentage of the initial investment or funding amount projected
on a per annum basis. For example if £1000 funding is required for 30 days with a target profit of £100. Then the Net Target Profit Rate will be (100/1000 x 100) x (365/30), or 121%.

The 'Target Profit Rate' can be a way to compare with return on a loan since, for the purpose of this application, interest is stated on a per annum basis. However within the application the interest rate is agreed between the two parties from the outset whereas target profit is not. For the purpose of this application and any agreements for funding and investment made through it only the Profit Share can be agreed from the outset.

Ave.


Abbreviation for average and refers to either an interest rate or a target profit rate. In each case it is a weighted average rate, weighted by the amount requested,offered or agreed. For example if you make 3 separate requests to borrow:

£1000 @ preferred rate of 5%

£500 @ preferred rate of 3%

£250 @ preferred rate of 2%

Then you have requested to borrow a total of £1750 @ [(1000/1750 x 5)+(500/1750)+(250/1750 x 2)] x 100 = 4% Ave.

The same applies for average target profit rate, amounts offered, and amounts agreed.

Make a request to borrow


As an alternative to sending out a new request to borrow, you may choose to shop around within in your network and fulfil your financing requirement by responding to offers from friends that are already lending.
Click on |Borrow| you will see all offers of lending from your friends under the heading 'Respond To Friends That Are Already Lending' (below). Click on 'Make a Request' against each offer to view more detail and make a request to borrow. The total amount of lending offered, average term (weighted), and average rate (weighted) are shown in red below.

Make a New Request to Borrow

AND/OR

Respond To Friends That Are Already Lending

Currency
Amount to borrow
Start date
(if no agreements have been made by 00:00 on the start date, your request and all related activity will expire and be deleted)

Repayment date
Preferred Rate per annum (optional) %
Description
Send your request to:
Friend 1
Friend 2
Allow selected friends to forward your request to their friends
Lending offered Start date Term (days) Rate % (p.a.)

Friend 1
£5,000 17/01/2014 365 40 Make a Request

Friend 2
£2,000 17/01/2014 59 30 Make a Request

Friend 3
£1,000 17/01/2014 27 20 Make a Request

£8,000

246.25

35
If a friend has some spare cash and makes an offer to lend to their network, and you are included in the offer, you will be alerted on your home page. A small number will be visible next to |Borrow| in your menu bar indicating that there are new offers to lend from your friends.
New offers to lend from friends that include you will also show in your 'Activity' in the following format.

Friend 1
offered to lend £2,000 @ 30% per annum
from 17/01/2014 to 17/03/2014
View Detail
Make a request to borrow
By clicking on View Detail you can also see all other friends that the offer was sent to. If any of the these friends make a request it will also show in your activity. If you see that other, perhaps mutual friends have decided to make a request to borrow from that particular friend , you may also be more inclined to do so yourself.
Clicking on 'Make a request to borrow' will give you the full details of the offer (below) and all competing requests that other friends have made in response to it:

Offer to Lend



A Friend
offered to lend £2,000 @30% per annum from 17/01/2014 to 17/03/2014

Make a request to borrow

£ @ %

Description


Offer To Lend


Amount Offered £2,000 Preferred Rate per annum 30% Start Date 17/01/2014 Repayment Date 17/03/2014
Amount to be repaid £2,096.99

Offer sent to 2 friends

Requests From Friends


Total Amount Requested £2,000 Number of Requests 2
Average Amount Requested £1,000 Average Rate 23%
Friend Amount Rate Status

Friend 1

£1,000 20% Active

Friend 2

£1,000 26% Active
Total Amount Selected: £2000
Average Rate: 23%
Amount to be repaid: £2074.36
Make a request to borrow

£ @ %

Description
You can sort competing requests by amount and by rate. For multiple requests use the check boxes to select combinations of different requests that make up the total amount offered by the lender. The Total Amount Selected, Average Rate, and Amount to be repaid for selected requests will be calculated for you below. This will assist you in making a request that minimizes your rate ( if that is your objective) whilst still being competitive.
To make a request simply enter the amount you wish to borrow, your preferred interest rate, reason for the loan (Description) and press 'submit'. Your request will then appear in your Activity in the following format.

requested to borrow £1000 @ 25% from
Friend 2
View Detail
Withdraw

Once you have submitted your request it becomes active and can be agreed at any time by the recipient. You can track the progress of each of your requests to borrow by clicking on 'MY BORROWING' (See later). You can withdraw a request at any time, as long as it has not been agreed, by clicking Withdraw.

Make an offer to lend


So you have some spare cash, have joined 'Agree it' and invited your friends to join too. You haven't decided to make a new offer to lend yet. Perhaps you would like to see what your friends are doing before you dip in? No problem.
Click on |Lend| you will see all requests to borrow from your friends under the heading 'Respond To Friends That Are Already Borrowing' (below). Click on 'Make an offer' against each request to view more detail and make a offer to lend . The total amount of borrowing requested, average term (weighted), and average rate (weighted) are shown in red below.

Make a New Offer to Lend

AND/OR

Respond To Friends That Are Already Borrowing

Currency
Amount to lend
Start date

(if no agreements have been made by 00:00 on the start date, your request and all related activity will expire and be deleted
Repayment date
Preferred Rate per annum (optional) %
Description (Expand)


Send your offer to:

Friend 1

Friend 2
Allow selected friends to forward your offer to their friends
Borrowing Requested Start date Term (days) Rate % (p.a.)

Friend 1
£5,000 17/01/2014 365 25 Make an Offer

Friend 2
£2,000 17/01/2014 60 15 Make an Offer

Friend 3
£1,000 17/01/2014 28 10 Make an offer
£8,000 246.63 20.63
If your friends make any new requests to borrow and you are included in them you will be alerted on your home page. A small number will appear next to |Lend| in your menu bar indicating there are new requests to borrow from your friends.
Requests to borrow from friends will also show in your Activity in the following format.

Friend 2
requested to borrow £5,000 @ 15% View Detail
Make an offer to lend

Clicking on View Detail will display full details of the request including all other friends that the request was sent to. If any of these friends make an offer to lend it will also show in your activity. If you see that other, perhaps mutual friends have decided to make an offer to lend to that particular friend, you may also be more inclined to do so yourself.
Clicking on 'Make an offer to lend' will give you full details of the request and all competing requests that other friends have made in response to it:

Friend 2
requested to borrow £2,000 @ 15% per annum from 17/01/2014 to 17/01/2014
Make an offer to lend £ @ %

Request To Borrow


Amount Requested £2,000 Preferred Rate per annum 15% Start Date 17/01/2014 Repayment Date 17/03/2014
Amount to be repaid £2,049.32
Description loan

Request sent to 2 friends

Offers From Friends

Total Amount Offered £2000 Number of Offers 2
Average Amount Offered £1000 Average Rate 25%
Friend Amount Rate Status
Friend 1 £1,000 30% Active
Friend 2 £1,000 20% Active
Total Amount Selected: £2000

Average Rate: 25%

Amount to be repaid: £2082.19

Make an offer to lend

£ @ %

You can sort competing offers by amount and by rate. For multiple offers use the check boxes to select combinations of different offers that make up the total amount required by the borrower. The Total Amount Selected, Average Rate, and Amount to be repaid for selected offers will be calculated for you below. This will assist you in making an offer that maximises your rate (if that is your objective) whilst still being competitive.
To make an offer simply enter the amount you wish to lend, your preferred interest rate and press 'submit'. Your offer will then appear in your Activity in the following format.

offered to lend £1000 @ 25% to
A Friend
View Detail
Withdraw

Once you have submitted your offer it becomes active and can be agreed at any time by the recipient. You can withdraw your offer at any time, as long as it has been not been agreed, by clicking on Withdraw. You can track the progress of your offer to lend by clicking on 'MY LENDING' (see later)

Make a request for funding


On the other hand instead of sending out a request for funding, you may choose shop around within your network to fulfil your funding requirements by responding to offers of investment from your friends.
Click on |Seek Funding| and you will see all offers of investment from your friends under the heading 'Respond To Friends That Are Already Investing' . You can view more detail and make a request for funding by clicking on 'Make a Request' against each offer. The total amount of investment offered, average term (weighted), and average target profit rate (weighted) are shown in red below.

Make a New Request for Funding

AND/OR

Respond To Friends That Are Already Investing

Currency
How much funding are you seeking?
Start date of funding
Repayment date
Target profit expected
Percentage of profit to the investor %
Description
Send your request to:
Friend 1
Friend 2
Allow selected friends to forward your request to their friends
Investment Offered Start date Term (days) Target Profit Rate % (p.a.)

Friend 1
£5,000 21/01/2014 365 100 Make a Request

Friend 2
£3,000 21/01/2014 60 60.83 Make a Request

Friend 3
£1,000 21/01/2014 28 65.18 Make a Request
£9,000 225.89 83.08
A friend has some spare cash and makes a new offer to invest. If you are included in the offer you will be alerted on your home page. A small number will next to |Seek Funding| in your menu bar indicating that there are new offers to lend from your friends.
Any new offers from friends to invest will also show in your activity in the following format.

A Friend
offered to invest £3,000 @ net target profit of £300 View Detail
Make a request for funding
By clicking on View Detail you can also see all other friends that the offer was sent to. If any of the these friend make a request for funding it will also show in your activity. If you see that other, perhaps mutual friends have decided to make a request for funding from that particular friend , you may also be more inclined to do so yourself.
Clicking on 'Make a request for funding' will give you the full details of the offer and all competing requests that other friends have made in response to it:.

offered to invest £3,000 @ net target profit of £300 from 29/01/2014 to 30/03/2014
Make a request for funding

Amount of funding required £
Total target profit expected on this Investment £
% profit share to investor
Description

Offer to Invest

Amount Offered £3,000 Net Target Profit required £300 Start Date 29/01/2014 Repayment Date 30/03/2014
Net Target Profit(%) 10% Amount to be repaid if target profit realised £3,300
Offer sent to 1 friends


Requests From Friends

Total Amount Requested £2,000 Number of Requests 2
Average Amount Requested £1,000 Average Profit Share 45% Average Net Target Profit(%) 11%
Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount Net Target Profit %
Friend 1 £1,000 50% £100 10% Active
Friend 2 £1,000 40% £120 12% Active
Total Amount Selected: £2000
Average Profit Share: 45%
Average Net Target profit (%): 11%
Total Net Target Profit: £220

Make a request for funding

Amount of funding required £

Total target profit expected on this Investment £

% profit share to investor Net target profit to investor £0 ( 0%)

Description
You can sort competing requests above by amount and by Net Target Profit (%). For multiple requests use the check boxes to select combinations of different requests that make up the total amount offered by the investor. The Total Amount Selected, Average Net Target Profit (%) and Amount to be repaid for selected requests will be calculated for you below. This will assist you in making a request that minimises the % profit share to the investor ( if that is your objective) whilst still being competitive.
To make a request simply enter the Amount of funding required,Total target profit expected on the Investment and your preferred % profit share to the investor . The Net target profit to the investor will be calculated automatically alongside enabling you to compare it with other competing requests for funding. Finally enter your business plan (Description) and press 'submit'.
Your request will then appear in your Activity in the following format.

requested funding of £500 @ 50% profit share (Net target profit of £100 or 20%) from
Friend
View Detail
Withdraw
Once you have submitted your request it becomes active and can be agreed at any time by the recipient. You can track the progress of each of your requests to borrow by clicking on 'MY BORROWING' (See later). You can withdraw a request at any time, as long as it has not been agreed, by clicking on 'withdraw'.

Make an offer to Invest


If a friend makes a request for funding ('Seek Funding') and you are included in the request it will show under the heading 'Respond To Friends That Are Already Seeking Funding' (below). You can view more detail and make an offer to lend by clicking on 'Make an offer' against each request. The total amount of funding requested, Average term (weighted), and average target profit rate (weighted) are shown in red below.

Make a New Offer to Invest


AND/OR

Respond To Friends That Are Already Seeking Funding


Currency
How much are you looking to invest?
Start date of investment
Repayment date
Net target profit sought
Send your request to:
Friend 1
Friend 2
Allow selected friends to forward your offer to their friends
Funding Requested Start date Term (days) Target Profit Rate % (p.a.)

Friend 1
£5,000 21/01/2014 365 30 Make an Offer

Friend 2
£3,000 21/01/2014 60 60.83 Make an Offer

Friend 3
£1,000 21/01/2014 28 65.18 Make an Offer
£9,000 243.11 30.32
If your friends make any new requests for funding you will be alerted on your home page. A small number will appear next to |Invest| in your menu bar indicating there are new requests for funding from your friends.
Requests for funding from friends will also show in your Activity in the following format.

A Friend
requested funding of £5,000 @ 50% profit share to the investor. The target profit is £5000 View Detail
Make an offer to invest

Clicking on View Detail will display full details of the request including all other friends that the request was sent to. If any of these friend make an offer to invest it will also show in your activity. If you see that other, perhaps mutual friends have decided to make an offer to invest with that particular friend, you may also be more inclined to do so yourself.
Clicking on 'Make an offer to invest' will give you full details of the request and all competing requests that other friends have made in response to it:

Friend 1
requested funding of £5,000 @ 30% profit share to the investor
from 21/01/2014 to 21/01/2015. The target profit is £5,000
Make an offer to invest

£ @
%
profit share to you, if target profit of £5,000 is achieved your share of the profit will be £0

Request for Funding


Amount Requested £5,000 Target Profit Expected £5,000 Start Date 29/01/2014 Repayment Date 29/01/2015
Preferred Profit Share 30% Net Target Profit £1,500 Net Target Profit(%) 30% Amount to be repaid if target profit realised £6,500
Description venture
Request sent to 2 friends

Offers from friends

Total Amount Offered £6,000 Number of Offers 3
Average Amount Offered £2,000 Average Profit Share 49.17% Average Net Target Profit(%) 49.17%
Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount
Net Target Profit %
Friend 1 £2,500 60% £1,500 60% Active
Friend 2 £2,500 40% £1,000 40% Active
Friend 3 £1,000 45% £450 45% Active
Total Amount Selected: £6000

Average Profit Share: 49.17%

Average Net Target profit (%): 49.17%

Total Net Target Profit: £2950

Make an offer to invest

£ @
%
profit share to you, if target profit of £5,000 is achieved your share of the profit will be £0
You can sort competing offers above by Amount and by Net Target Profit (%) . For multiple offers use the check boxes to select combinations of different offers that make up the total amount of funding required by the entrepreneur. The Total Amount Selected, Average Profit Share, Average Net Target profit (%),and the Total Net Target Profit for selected offers will be calculated for you below. This will assist you in making an offer that maximises your Net target profit ( if that is your objective) whilst still being competitive.
To make an offer simply enter the amount you wish to invest, the % profit share that you require (your net target profit will be calculated automatically alongside) and press 'submit'. Your offer will then appear in your Activity in the following format.

offered to invest £2,500 @ 50% profit share (net target profit of £1,250) with
Friend 1
View Detail
Withdraw
Once you have submitted your offer it becomes active and can be agreed at any time by the recipient. You can withdraw your offer at any time as long as it has not been agreed by clicking on Withdraw. You can track the progress of your offer to invest by clicking on 'MY INVESTMENT' (see later).

My Currencies


You can use Agree it in any currency. In fact when you join 'Agree it', your default currency is set according to your country of residence as stated on your Facebook profile. Your default currency will appear in the top left hand corner of your home page.

You can change your default currency at any time by clicking 'change' and using the drop down box to select a new default currency. Changing your default currency will change the currency in your home page (see top left hand corner).

You may not wish to change your default currency however you may wish to initiate transactions (|Borrow|Lend|Seek Funding|Invest|) in different currencies. On each of these input pages you have the option of selecting which currency to transact in. Once you initiate a new request or offer in a different currency you will see the new currency displayed under 'MY CURRENCIES' under your default currency. For example if your default currency is UK Pound and you make a new request to borrow in US Dollar then you will see the following:

MY CURRENCIES

United Kingdom Pound (default)
United States Dollar

Similarly if a friend sends you a request or offer in another currency for example US Dollars you will see the new currency under your default currency (A little number in a square next to the currency will alert you that you have new offers/requests in that currency).



If you click on 'United States Dollar' your home page will change to US Dollar and you will be able to see all of the transactions, activity and agreements that you have made in US Dollars . This is not to be confused with converting all of your transaction into US Dollars, the application does not convert currencies. 'Agree it' stores all transactions, activity and agreements on a separate home page for each currency. You can always switch back to your default currency by clicking on 'US Dollar' for the example above.

My Borrowing


So you've made a request or requests for a loan from your friends, you can now track the progress of your requests by clicking on 'MY BORROWING' in the left hand column of your home page. Your requests will appear in the following table format:

My Borrowing

Request Type Borrowing requested by me Preferred rate % (p.a.) Start date Term (days) Lending offered by friends rate offered % (p.a.) Status Borrowing agreed rate agreed % (p.a.)
N £1,000 10 22/01/2014 365 £500 20 Active £0 0 View detail
R £500 20 22/01/2014 365 £5,000 30 Active £0 0 View detail
R £100 20 22/01/2014 365 £1,000 20 Agreed £100 20 View detail
R £200 10 22/01/2014 365 £2,000 15 Agreed £200 10 View detail
R £200 15 22/01/2014 365 £3,000 25 Agreed £200 15 View detail
£1,500 13.33% (ave) £5,500 29.09% (ave) £500 14% (ave)
'Request type' refers to whether the request to borrow is new (N) or if the request was in response (R) to friends that are already lending (see Make a request to borrow above). You can view the full details by clicking 'View detail' against each request. All of your borrowing related activity will also show below the table.
You will be alerted to any new offers or agreements to your requests on your home page. A small number will appear next to 'MY BORROWING' indicating that there are new offers or agreements from your friends in response to your requests.
In the above example the borrower is trying to raise £1000, first by submitting a new request (N) to borrow £1000, and then by making a series of separate bids for smaller amounts that make up the desired £1000.
For the new request (N) £500 has been offered by friends at an average rate of 20%. For the response requests (R) , the 'Status' column shows £500 (£100,£200 and £200) as agreed by friends and at an average rate of 14%. If the borrower agrees the £500 offered at 20% average then the full desired amount of £1000 will have been agreed at an average rate of 17%=[(500/1000 x 20) +(500/1000 x 14)].
Alternatively the borrower may choose to wait for more offers against the (N) request potentially at a lower rate , however in doing so they run the risk that the existing offers (total £500 @average rate 20%) are withdrawn. Whether they choose to wait for better offers will depend upon the time left to the start of the loan , the number of friends that are included in the (N) request that have not yet made offers, and the likelihood of them doing so.
You can check how competitive your (N) request is by clicking on |Lend| and viewing the (N) requests of others in your network that may competing for the same lenders as you.
You can withdraw an (N) request at any time even if you have agreed offers made in response. In this case the request will be withdrawn but the agreements made will still stand. On the other hand an (R) request can be only be withdrawn at any time prior to agreement. To withdraw a request simply click on the 'withdraw' button displayed next to a particular request. If you withdraw a request it will be removed from 'MY BORROWING' and will also be removed from the corresponding recipients account and Activity.

My Lending


If you've made an offer or offers to lend to your friends you can now track the progress of your offers by clicking on 'MY LENDING'. Your offers will appear in the following table format:

My Lending

Offer Type Lending offered by me Preferred rate % (p.a.) Start date Term (days) Borrowing requested by friends rate offered % (p.a.) Status Lending agreed rate agreed % (p.a.)
N £1,000 30 22/01/2014 365 £500 20 Active £0 0 View detail
R £100 30 22/01/2014 365 £1,000 20 Agreed £100 30 View detail
R £200 25 22/01/2014 365 £2,000 15 Agreed £200 25 View detail
R £200 25 22/01/2014 365 £3,000 15 Agreed £200 25 View detail
R £500 20 22/01/2014 365 £5,000 10 Active £0 0 View detail
£1,500 26.67% (ave) £5,500 10.91% (ave) £500 26% (ave)
'Offer type' refers to whether the offer to lend is new (N) or if the offer was in response (R) to friends that are already borrowing (see Make an offer to lend above). You can view the full details by clicking 'View detail' against each offer. All of your lending related activity will also show below the table.
You will be alerted to any new requests or agreements against your offers on your home page. A small number will appear next to 'MY LENDING' indicating that there are new offers or agreements from your friends in response to your requests.
In the above example the lender is looking to place £1000, first by submitting a new offer(N) to lend £1000, and then by making series separate response (R) offers for smaller amounts that make up the desired £1000.
For the new offer (N) £500 has been requested by friends at an average rate of 20%. For the response (R) offers , the 'Status' column shows £500 (£100,£200 and £200) as agreed by friends and at an average rate of 26%. If the lender agrees the £500 offered at 20% average then the full desired amount of £1000 will have been agreed at an average rate of 23% =[ (500/1000 x 20) +(500/1000 x 26)].
Alternatively the lender may choose to wait for more requests against the (N) offer potentially at a higher rate , however in doing so they run the risk that the existing requests (total £500 @average rate 20%) are withdrawn. Whether they choose to wait for better requests will depend upon the time left to the start of the loan , the number of friends that are included in the (N) offer that have not yet made requests, and the likelihood of them doing so.
You can check how competitive your (N) offer is by clicking on |Borrow| and viewing (N) offers from other lenders in their network who may competing for the same borrowers.
You can withdraw an (N) offer at any time even if you have agreed requests made in response. In this case your offer will be withdrawn but the agreements made will still stand. On the other hand an (R) offer can be only be withdrawn at any time prior to agreement. To withdraw an offer simply click on the 'withdraw' button displayed next to the selected offer. If you withdraw an offer it will be removed from 'My lending' and will also be removed from the corresponding recipients account.

My Funding


So you've taken a step closer to becoming an entrepreneur by requesting funding from your friends and family. You can now track the progress of your requests by clicking on 'MY FUNDING' in the left hand column of your home page. Your requests will appear in the following table format:

My Funding

Request Type Funding Requested by me Preferred Profit Share % Start date Term (days) Investment Offered by Friends Profit Share Offered % Status Funding agreed Profit Share Agreed %
N £1,000 30 23/01/2014 365 £500 40 Active £0 0 View detail
R £100 35 23/01/2014 365 £1,000 50 Agreed £100 35 View detail
R £200 40 23/01/2014 365 £2,000 75 Agreed £200 40 View detail
R £200 40 23/01/2014 365 £3,000 66.67 Agreed £200 40 View detail
R £500 30 23/01/2014 365 £5,000 80 Active £0 0 View detail
£1,500 30% (ave) £5,500 76.36% (ave) £500 39% (ave)
'Request type' refers to whether the request for funding is new (N) or if the request was in response (R) to friends that are already lending (see Make a request to borrow above). You can view the full details by clicking 'View detail' against each request. All of your funding related activity will also show in 'MY FUNDING' below the table.
You will be alerted to any new offers or agreements to your requests on your home page. A small number will appear next to 'MY FUNDING' indicating that there are new offers or agreements from your friends in response to your requests.
In the above example the entrepreneur is trying to raise £1000, first by submitting a new request(N) for funding £1000, and then by making a series of separate (R) requests for smaller amounts that make up the desired £1000.
For the new request (N) £500 of investment has been offered by friends at an average profit share of 40% (remember profit share means the percentage of profits that goes to the investor) . For the response requests (R) , the 'Status' column shows £500 (£100,£200 and £200) as agreed by friends and at an average profit share of 39%. If the entrepreneur then agrees the £500 offered at 40% the full desired amount of £1000 will have been agreed at an average rate of 39.5%= [ (500/1000 x 40) +(500/1000 x 39)].
Alternatively the entrepreneur may choose to wait for more offers against the (N) request potentially at a lower profit share , however in doing so they run the risk that the existing offers (total £500 @average profit share 40%) are withdrawn. Whether they choose to wait for better offers will depend upon the time left to the start of the loan , the number of friends that are included in the (N) request that have not yet made offers, and the likelihood of them doing so.
You can check how competitive your (N) request is by clicking on |Invest| and viewing the (N) requests of others in your network that may competing for the same investors as you.
You can withdraw an (N) request at any time even if you have agreed offers made in response. In this case the request will be withdrawn but the agreements made will still stand. On the other hand an (R) request can be only be withdrawn at any time prior to agreement. To withdraw a request simply click on the 'withdraw' button displayed next to a particular request. If you withdraw a request it will be removed from 'MY FUNDING' and will also be removed from the corresponding recipients account and Activity.

My Investments


So you have offered to help your friends get their ventures started or develop. If you've made an offer(s) to your friends to invest you can now track the progress of your offers by clicking on 'MY INVESTMENT'. Your offers will appear in the following table format:

My Investments

Offer Type Investment Offered by me Preferred Target Profit Rate % (p.a.) Start date Term (days) Funding Requested by Friends Target Profit Rate % (p.a.) Status Investment agreed Target Profit Rate % (p.a.)
N £1,000 100 23/01/2014 365 £500 50 Active £0 0 View detail
R £100 50 23/01/2014 365 £1,000 35 Agreed £100 50 View detail
R £200 60 23/01/2014 365 £2,000 40 Agreed £200 60 View detail
R £200 60 23/01/2014 365 £3,000 40 Agreed £200 60 View detail
R £500 70 23/01/2014 365 £5,000 30 Active £0 0 View detail
£1,500 90% (ave) £5,500 31.82%(ave) £500 58% (ave)
'Offer type' refers to whether the offer to invest is new (N) or if the offer was in response (R) to friends that are already seeking funding (see Make an offer to lend above). You can view the full details by clicking 'View detail' against each offer. All of your lending related activity will also show below the above table. You will be alerted to any new requests or agreements against your offers on your home page. A small number will appear next to 'MY INVESTMENT' indicating that there are new offers or agreements from your friends in response to your requests.
In the above example the investor is looking to place £1000, first by submitting a new offer(N) to invest £1000, and then by making a series of separate (R) offers for smaller amounts that make up the desired £1000.
For the new offer (N) £500 has been requested by friends at an average target profit rate of 50% (remember target profit rate always refers to the annualised % return to the investor). For the response offers (R) , the 'Status' column shows £500 (£100,£200 and £200) as agreed by friends and at an average target profit rate of 58%. If the investor agrees the £500 requested at 50% target profit rate then the full desired amount of £1000 will have been agreed at an average rate of 54% [ (500/1000 x 58) +(500/1000 x 54)].
Alternatively the Investor may choose to wait for more requests against the (N) request potentially at a higher target profit rate , however in doing so they run the risk that the existing requests (total £500 @average rate 50%) are withdrawn. Whether they choose to wait for better requests will depend upon the time left to the start of the investment , the number of friends that are included in the (N) offer that have not yet made requests, and the likelihood of them doing so.
You can check how competitive your (N) offer is by clicking on |Seek Funding| and viewing (N) offers from other lenders in their network who may competing for the same entrepreneurs.
You can withdraw an (N) offer at any time even if you have agreed requests made in response. In this case your offer will be withdrawn but the agreements made will still stand. On the other hand an (R) offer can be only be withdrawn at any time prior to agreement. To withdraw an offer simply click on the 'withdraw' button displayed next to the selected offer. If you withdraw an offer it will be removed from 'MY INVESTMENT' and will also be removed from the corresponding recipients account.

Agreements

Well done! by now you will be well on your way to tapping into your social network for borrowing options, lending, getting funding or sourcing investment opportunities. Now its time to Agree it ! Agreement is the final stage of the negotiation process.

On 'Agree it' the agreements that you make with your friends are NOT normal contractual agreements between two parties in the legal sense. For the purposes of this application, any agreement made through it is strictly a pledge or 'Gentleman's agreement'.
It is strictly a term of use of this application that any agreements made within 'Agree it' are non legally binding.
The aim of Agree it is to match you with potential borrowers, lenders, entrepreneurs and investors within your social network. The Agree it platform enables you to negotiate and agree terms with multiple friends without entering into legally binding contracts. Agree it does not provide legal contracts. If you require legally binding contracts with the agreed terms then you can always arrange these with your friends outside of this application subject to the laws and regulations of your jurisdiction (home country). As stated above there is no legal obligation to honour any agreement made within this application. Nevertheless, given that you have entered into these agreements with members of your social network, there is no doubt a social obligation to make good on an agreement.

On 'Agree it' once you make an agreement with a friend it is stored in your profile (see later) and can be viewed in the future by any prospective counter participant (only with your permission of course). For the purpose of this application prospective 'counter participant' means another friend or user on 'agree it' to whom you may make a request or an offer for borrowing, lending, funding or investment in the future. This counter participant will have access to your profile (see My Profile below) and will be able to view your current and previous agreements including the friends that you made agreements with (although they will not be able to see their profiles unless they have been granted access).

After an agreement has been made both parties to agreement with will be able to report on each other's performance against the agreement. On the start date of an agreement a borrower can confirm that they actually received the funds from the lender as agreed . Similarly on the repayment date a lender can confirm that a borrower has repaid the loan with interest as agreed. Confirmation by both parties to an agreement are recorded in a user's profile alongside each agreement (see My Profile below).

Also by simply clicking on the icon of one of the friends that you had a previous agreement with, your potential counter party will be connected to their public Facebook profile. They will then be able to message them for more information about how you performed against your agreement with them before they decide to enter into an agreement with you.

This works in a similar way to a bank checking you credit score before offering you a loan. The idea is that aside from keeping your friends happy you have an incentive to make good on your agreements in order to build a good reputation as a borrower,lender, investor or entrepreneur or all of the above within your network. By virtue, the better your reputation, the better the terms you can negotiate in the future. Once an agreement is made it can only be cancelled with the consent of both parties.

Conversely you can even use Agree it if you have already agreed terms and are about to enter into a legally binding private loan agreement with a friend outside of the app. Currently there is no effective way of recording a private loan between friends with a credit referencing agency. By recording the loan in Agree it, as a lender, you are given an additional level of protection knowing that the agreement can be referenced by other parties in the future. As a borrower you can benefit too, given that you make good on your the agreement, the record in Agree it can be the basis of a positive credit history within the app.

Agree it does not currently handle the payment side of your agreements, it provides you with tools to negotiate and a place to store your agreements. You will need to arrange the mode of payment with your friends outside of the application for example, online bank transfer, cash or Paypal etc. On Paypal Sending money to friends and family is free for you and the recipient when you fund the transfer with your bank account or PayPal balance.

Agreeing to Borrow

So you have submitted a new request to borrow , have received offers to lend back from your friends in response. Now its time to agree the best offers!
From the home page click on 'My Borrowing' to bring up your table of requests (see My Borrowing above). Click View detail against your request with offers that you wish to agree (remember you can only agree offers for new requests (N) , response requests (R) are agreed by the lender). This will bring up the details of your original request to borrow and all offers to lend that have been made by your friends in response:

requested to borrow £5,000 @ 5% per annum from 16/03/2013 to 16/04/2013 Withdraw

Request To Borrow

Amount Requested £5,000 Preferred Rate per annum 5% Start Date 16/03/2013 Repayment Date 16/04/2013
Amount to be repaid £5,021.23
Description New Car

Request sent to 2 friends

Offers From Friends

Total Amount Offered £5,000 Number of Offers 4
Average Amount Offered £1,250 Average Rate 8.6%
Friend Amount Rate Status Sort by: Amount Rate
Friend 1 £1,000 10% Active
Friend 2 £1,000 8% Active
Friend 3 £2,000 9% Active
Friend 4 £1,000 7% Active

Total Amount Selected: £5000

Average Rate: 8.6%

Amount to be repaid: £5038.88



Now that you can see all the competing offers to your requests to borrow , you can select the best ones that fulfil your borrowing requirements.

You can sort the offers by rate and amount and use the tick boxes to select different offers that can make up the total amount that you have requested. The application will automatically calculate the Total Amount, Average Rate and Amount to be repaid for the offers that you select. This will assist you in selecting the best offers that fulfil your borrowing requirement before you agree them.

Use the tick boxes to select the best offers and press the 'Agree Selected' button to agree them simultaneously. You have now made an agreement with each of the friends whose offers you have selected. Once you agree an offer or a group of offers you will be directed to 'MY AGREEMENTS' (see later) where you will be able to view all of your latest agreements. Each new agreement will also appear as an item in your activity in the following format.

agreed to borrow £1,000 @ 7% per annum from 18/03/2013 to 18/04/2013
Friend 1
View Detail
Cancel

Clicking on 'View Detail' brings up the full details of your agreement to borrow from Friend 1, the full details of your initial request to borrow, and details of all agreements that you entered into with other friends to fulfil your loan request.

Agreement To Borrow

On 27/02/2013
agreed to borrow £1,000 @ 7% from
Friend 1
from 16/03/2013 to 16/04/2013 £1,005.95 to be repaid on 16/ 04/2013 Cancel

Initial Request To Borrow

Amount Requested £5,000 Preferred Rate per annum 5% Start Date 18/03/2013 Repayment Date 18/04/2013
Description loan

Agreements For This Request

Total Amount Agreed £5,000 Number of Agreements 4
Average Rate 8.6% Total to be repaid £5,036.52 on 18/04/2013
Friend Amount Rate Status Sort by: Amount Rate
Friend 1 £1,000 10% Agreed
Friend 2 £1,000 8% Agreed
Friend 3 £2,000 9% Agreed
Friend 4 £1,000 7% Agreed

It is possible to cancel an agreement however a cancellation must also be approved by the lender. Pressing cancel will send a cancellation request to the lender for approval ( see later Cancellations )

Agreeing to Lend


Similarly if you have submitted a new offer to lend to a group of friends and have received requests (bids) to borrow from your friends in response. Now its time to agree the best requests!
From the home page click on 'My Lending' to bring up your table of requests (see My Lending above). Click View detail against your offer with bids that you wish to agree (remember you can only agree requests for new offers (N) , response offers(R) are agreed by the borrower). This will bring up the details of your original offer to lend and all requests that have been made by your friends in response to your offer:

offered to lend $5,000 @ 10% per annum from 16/03/2013 to 16/04/2013 Withdraw

Offer to Lend

Amount Offered £5,000 Preferred Rate per annum 10% Start Date 16/03/2013 Repayment Date 16/04/2013
Amount to be repaid £5,042.47
Offer sent to 2 friends

Requests From Friends

Total Amount Offered £6,000 Number of Offers 4
Average Amount Offered £1,500 Average Rate 6.67%
Friend Amount Rate Status Sort by: Amount Rate
Friend 1 £1,000 7% Active
Friend 2 £1,000 5% Active
Friend 3 £2,000 8% Active
Friend 4 £2,000 6% Active
Total Amount Selected: £5000
Average Rate: 7%
Amount to be repaid: £5031.64



Now that you can see all the competing requests to your offer to lend, you can select the best ones that fulfil your lending requirements.
You can sort the offers by rate and amount and use the tick boxes to select different offers that can make up the total amount that you have requested. The application will automatically calculate the Total Amount, Average Rate, Amount to be repaid for the offers that you select. This will assist you in selecting the best offers that fulfil your lending requirement before you agree them. Use the tick boxes to select the best offers and press the 'Agree Selected' button to agree them simultaneously.
You have now made an agreement with each of the friends whose requests you have selected. Once you agree a request or a group of requests you will be directed to 'MY AGREEMENTS' (see later) where you will be able to view all of your latest agreements. Each new agreement will also appear as an item in your activity in the following format.

agreed to lend £1,000 @ 7% per annum from 19/03/2013 to 19/04/2013 to
Friend 1
View Detail
Cancel

Clicking on View Detail brings up the full details of your agreement to lend to Friend 1, the full details of your initial loan offer to lend, and details of all agreements that you entered into with other friends to fulfil the loan offer.

Agreement To Lend

On 18/03/2013
agreed to lend £1,000 @ 7% to
Friend 1
from 19/03/2013 to 19/04/2013 £1,005.95 to be repaid on 19/04/2013
Description loan

Initial Offer To Lend

Amount Requested £5,000 Preferred Rate per annum 10% Start Date 19/03/2013 Repayment Date 19/04/2013

Agreements For This Request

Total Amount Agreed £5,000 Number of Agreements 3
Average Rate 7% Total to be repaid £5,029.73 on 19/04/2013
Friend Amount Rate Status Sort by: Amount Rate
Friend 1 £1,000 7% Agreed
Friend 2 £2,000 8% Agreed
Friend 3 £2,000 6% Agreed


It is possible to cancel an agreement however a cancellation must also be approved by the borrower. Clicking cancel will send a cancellation request to the borrower for approval ( see later Cancellations )

Agreeing Funding


So you have submitted a new request to borrow , have received offers to lend back from your friends in response. Now its time to agree the best offers!
From the home page click on 'My Funding' to bring up your table of requests (see My Funding above). Click View detail against your request with offers that you wish to agree (remember you can only agree offers for new requests(N) , response requests are agreed by the investor). This will bring up the details of your original request for funding and all offers to invest that have been made by your friends in response to your request:

requested funding of £5,000 @ 50% profit share to the investor from 16/03/2013 to 16/04/2013. The target profit is £3,000 Withdraw

Request For Funding


Amount Requested £5,000 Target Profit Expected £3,000 Start Date 16/03/2013 Repayment Date 16/04/2013
Preferred Profit Share 50% Net Target Profit £1,500 Net Target Profit(%) 30% Amount to be repaid if target profit realised £6,500
Description Business venture

Request sent to 2 friends

Offers From Friends


Total Amount Offered £6,000 Number of Offers 4
Average Amount Offered £1,500 Average Profit Share 66.67% Average Net Target Profit(%) 40%

Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount Net Target Profit %
Friend 1 £1,000 60% £360 36% Active
Friend 2 £2,000 70% £840 42% Active
Friend 3 £1,000 50% £300 30% Active
Friend 4 £2,000 75% £900 45% Active

Total Amount Selected: £5000

Average Profit Share : 68%

Average Net Target profit (%): 40.08%

Total Net Target Profit: £2040



Now that you can see all the competing offers to your request for funding, you can select the best ones that fulfil your funding requirements.
You can sort the offers by rate and amount and use the tick boxes to select different offers that can make up the total amount that you have requested. The application will automatically calculate the Total Amount, Average Profit Share, Average Net Target Profit and Total Net Target Profit for the offers that you select. This will assist you in selecting the best offers that fulfil your lending requirement before you agree them. Use the tick boxes to select the best offers and press the 'Agree Selected' button to agree them simultaneously.
You have now made an agreement with each of the friends whose offers you have selected. Once you agree a request or a group of requests you will be directed to 'MY AGREEMENTS' (see later) where you will be able to view all of your latest agreements. Each new agreement will also appear as an item in your activity in the following format.

agreed to funding of £1,000 @ 60% profit share from 19/03/2013 to 19/04/2013 from
Friend 1
View Detail
Cancel

Clicking on View Detail brings up the full details of your agreement to lend to Friend 1, the full details of your initial offer to lend, and details of all agreements that you entered into with other investors to fulfil your funding request.

Agreement for Funding

On 18/3/2013
agreed to funding of £1,000 @ 60% profit share (net target profit of £360) from
Friend 1
from 19/03/2013
to 19/04/2013
£1,360 to be repaid on 19/04/2013 if target profit is achieved

Initial Request For Funding

Amount Requested £5,000 Preferred Profit Share 50% Target Profit £3,000 Start Date 16/03/2013 Repayment Date 16/04/2013
Description Business venture

Agreements for this Request

Total Amount Agreed £4,000 Number of Agreements 3
Average Profit Share 65% Total to be repaid £5,560 on 19/04/2013

Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount Net Target Profit %
Friend 1 £1,000 60% £360 36% Agreed
Friend 2 £1,000 50% £300 30% Agreed
Friend 3 £2,000 75% £900 45% Agreed

It is possible to cancel an agreement however a cancellation must also be approved by the investor. Clicking cancel will send a cancellation request to the investor for approval ( see later Cancellations )

Agreeing to Invest


Similarly if you have submitted a new offer to invest to a group of friends and have received requests (bids) for funding from your friends in response. Now its time to agree the best requests!
From the home page click on 'MY INVESTMENT' to bring up your table of offers (see My Investment above). Click View detail against your offer with requests that you wish to agree (remember you can only agree requests against new offers (N) , response offers(R) are agreed by the entrepreneur). This will bring up the details of your original offer of investment and all requests that have been made by your friends in response to your offer:

offered to invest £5,000 @ net target profit of £4,000 from 16/03/2013 to 16/04/2013 Withdraw

Offer to Invest

Amount Offered £5,000 Net Target Profit required £4,000 Start Date 16/03/2013 Repayment Date 16/04/2013
Net Target Profit(%) 80% Amount to be repaid if target profit realised £9,000
Offer sent to friends

Requests From Friends

Total Amount Requested £6,000 Number of Requests 4
Average Amount Requested £1,500 Average Profit Share 40% Average Net Target Profit(%) 27.5%
Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount Net Target Profit %
Friend 1 £1,000 50% £250 25% Active
Friend 2 £1,000 50% £500 50% Active
Friend 3 £2,000 40% £600 30% Active
Friend 4 £2,000 30% £300 15% Active

Total Amount Selected: £5000

Average Profit Share : 38%

Average Net Target profit (%): 28%

Total Net Target Profit: £1400



Now that you can see all the competing requests to your offer to invest,
you can select the best ones that fulfil your investment requirements.

You can sort the offers by rate and amount and use the tick boxes to select different offers that can make up the total amount that you have requested. The application will automatically calculate the Total Amount, Average Profit Share, Average Net Target Profit and Total Net Target Profit for the offers that you select. This will assist you in selecting the best offers that fulfil your investment requirement before you agree them. Use the tick boxes to select the best offers and press the 'Agree Selected' button to agree them simultaneously.
You have now made an agreement with each of the friends whose requests you have selected. Once you agree a request or a group of requests you will be directed to 'MY AGREEMENTS' (see later) where you will be able to view all of your latest agreements. Each new agreement will also appear as an item in your activity in the following format.

agreed to invest £1,000 @ 50% profit share from 19/03/2013 to 19/04/2013 with
Friend 1
View Detail
Cancel

If you click on View Detail you will bring up the full details of your agreement to invest with Friend 1, the full details of your original offer to invest and details of all agreements that you have entered into with other friends to fulfil your placement.

Agreement to Invest

On 28/01/2014
agreed to invest £1,000 @ 50%
with
Friend 2
from 29/01/2014 to 31/01/2014
Cancel £1000 target profit£1,500 to be repaid on 31/01/2014
Description Venture

Initial Offer To Invest

Amount Offered £5,000 Net Target Profit required £4,000 Start Date 16/03/2013 Repayment Date 16/04/2013
Net Target Profit(%) 80% Amount to be repaid if target profit realised £9,000
Offer sent to 4 friends

Requests From Friends

Total Amount Requested £6,000 Number of Requests 4
Average Amount Requested £1,500 Average Profit Share 40% Average Net Target Profit(%) 27.5%
Friend Amount Profit Share Net Target Profit Net Target Profit % Status Sort by: Amount Net Target Profit %
Friend 2 £1,000 50% £500 50% Agreed
Friend 3 £2,000 40% £600 30% Agreed
Friend 4 £2,000 30% £300 15% Agreed

It is possible to cancel an agreement however a cancellation must also be approved by the entrepreneur. Clicking cancel will send cancellation request to the entrepreneur for approval (see later Cancellations )

My Agreements


You can view all of your agreements by clicking on 'MY AGREEMENTS'. You will be presented will the following summary of all of your agreements to date:



This page give you total amounts to date that you have agreed to borrow, to lend, for funding, and to invest. It also gives you a snapshot of the total amounts that you should be expecting to receive in the future ('Due to borrow'/'Funding Due'/'Due to be repaid') and the amounts that you need to pay in the future ('Due to repay'/'Due to lend'/'Due invested') as per the agreements that you have entered into.

By clicking on each of coloured panels you can view the following tables of agreements that make up your borrowing, lending, funding and investment to date.

My Agreements to Borrow


All of your agreements to borrow will be displayed in the following table and you can sort them by clicking on each of the column headings.

My Agreements to Borrow

Lender Borrowing Agreed Rate % (p.a.) Start Date Repayment Date Repayment Amount Borrowing Received? Borrowing Repaid?

Friend 1
£100 30 22/01/2014 22/01/2015 £130 View Detail

Friend 2
£200 25 22/01/2014 22/01/2015 £250 Confirm View Detail

Friend 3
£200 25 22/01/2014 22/01/2015 £250 View Detail
£500 Total £630 Total
£0 Due to borrow £630 Due to repay


This table will enable you to manage all of your borrowing obligations and to see when you need to make repayments to your friends as per your agreements. The totals at the bottom show a snapshot, at any given time, of the amount you should be expecting to receive 'Due to borrow' and the amount that you will need to repay in the future 'Due to repay'.

On the start date of each agreement to borrow you will be able to report that you have actually received the funds from the lender as agreed by clicking 'confirm' (see above). This information will be then be updated both the lender's and your profile (see later). Conversely upon the repayment date the lender will be able to confirm that you have repaid the funds as agreed and both profiles will be updated accordingly.

Clicking on View Detail against each agreement will give you full details of each of your agreements in the format show earlier (See Agreeing to borrow).

My Agreements to Lend


All of your agreements to lend will be displayed in the following table format (example below) and you can sort them by clicking on each of the column headings.

My Agreements to Lend

Borrower Lending Agreed Rate % (p.a.) Start Date Repayment Date Repayment Amount Lending Received? Lending Repaid?

Friend 1
£100 30 22/01/2014 22/01/2015 £130 View Detail

Friend 2
£200 25 22/01/2014 22/01/2015 £250 Confirm View Detail

Friend 3
£200 25 22/01/2014 22/01/2015 £250 View Detail
£500 Total £630 Total
£0 Due to lend £630 Due to be repaid

This table will enable you to manage all of your lending obligations and to see when you need to make payments to your friends as per your agreements. The totals at the bottom show a snapshot at any given time of the amount that you need to pay 'Due to lend' and the amount you should be expecting to receive in the future 'Due to be repaid'.

On the repayment date of each agreement to lend you will be able to report that you have actually been repaid the funds by the borrower as agreed by clicking 'confirm' (see above). This information will be then be updated on both the borrower's and your profile (see later). Conversely on the start date the borrower will be able to confirm that the funds were received as agreed and both profiles will be updated accordingly.

Clicking on View Detail against each agreement will give you full details of each of your agreements in the format show earlier (See Agreeing to lend).

My Agreements for Funding


All of your agreements to lend will be displayed in the following table format (example below) and you can sort them by clicking on each of the column headings.

My Agreements for Funding

Investor Funding Agreed Target Profit Rate % Start Date Repayment Date Repayment Amount Funding Received? Funding Repaid?

Friend 1
£200 40 23/01/2014 23/01/2015 £280 View Detail

Friend 2
£200 40 23/01/2014 23/01/2015 £280 Confirm View Detail

Friend 3
£100 35 23/01/2014 23/01/2015 £135 View Detail
£500 Total £695 Total
£0 Due to be funded £695 Due to repay

This table will enable you to manage all of your funding obligations and to see when you need to make payments to your friends as per your agreements.

The totals at the bottom show a snapshot at any given time of the amount you should be expecting to receive 'Due to be funded' and the amount that you will need to repay in the future if your venture goes according to plan 'Due to repay'.

On the start date of each agreement for funding you will be able to report that you have actually received the funds from your investors as agreed by clicking 'confirm' (see above). This information will be then be updated both the investor's and your profile (see later). Conversely upon the repayment date the investor will be able to confirm that you have repaid the funds as agreed and both profiles will be updated accordingly.

Clicking on View Detail against each agreement will give you full details of each of your agreements in the format show earlier (See Agreeing Funding).

My Agreements to Invest


All of your agreements to lend will be displayed in the following table format (example below) and you can sort them by clicking on each of the column headings.

My Agreements to Invest


Entrepreneur Investments Agreed Target Profit Rate % (p.a.) Start Date Repayment Date Repayment Amount Investment Received? Investment Repaid?

Friend 1
£200 40 23/01/2014 23/01/2015 £280 View Detail

Friend 2
£200 40 23/01/2014 23/01/2015 £280 Confirm View Detail

Friend 3
£100 35 23/01/2014 23/01/2015 £135 View Detail
£500 Total £695 Total
£0 Due to invest £695 Due to be repaid

This table will enable you to manage all of your investment obligations and to see when you need to make payments to your friends as per your agreements. The totals at the bottom show a snapshot at any given time of the amount that you need to pay 'Due to invest' and the amount you should be expecting to receive in the future if the ventures that invest in go according to plan 'Due to be repaid'.

On the repayment date for each agreement to invest you will be able to report that you have actually been repaid the funds by the entrepreneur as agreed by clicking 'confirm' (see above). This information will be then be updated on both the entrepreneur's and your profile (see later). Conversely on the start date the entrepreneur will be able to confirm that the funds were received as agreed and both of your profiles will be updated accordingly.

Clicking on View Detail against each agreement will give you full details of each of your agreements in the format show earlier (See Agreeing Investment).

Cancellations


Once an agreement has been made it is possible to cancel it however this must be done with consent of both participants in the agreement.

Requesting a cancellation


Locate the agreement you wish to cancel by clicking on 'MY AGREEMENTS' and select from agreements 'To Borrow' , 'To Lend', 'For Funding' or 'To Invest'. You will then be able to view your individual agreements listed in table format (See MY AGREEMENTS above). Select the agreement you wish to cancel by clicking on View Detail you will presented with full details of the agreement (see example below). Clicking on cancel will send a request to cancel to the other participant in the agreement, the lender (Friend 1) in the example below.
On 27/02/2013

Cancel

agreed to borrow £1,000 @ 7% from
Friend 1
from 16/03/2013 to 16/04/2013 £1,005.95 to be repaid on 16/ 04/2013

Your request to cancel will be visible in your Activity and In MY CANCELLATIONS in the following format:

Activity



requested to cancel agreement to borrow £1000 @ 7% per annum from
Friend 1
View Detail
Withdraw

Check 'MY CANCELLATIONS' frequently, if your request to cancel is no longer there it means that it has been approved and the agreement has been cancelled and deleted from your profile. You can confirm this by checking 'MY AGREEMENTS' and your profile (see later) , the agreement will no longer be listed.

Agreeing a cancellation


If any of your friends have requested to cancel an agreement with you will be alerted by a small number next to MY CANCELLATIONS in the left hand column of your home page.



Click on 'MY CANCELLATIONS' to view the request to cancel.


requested to cancel agreement to borrow £1000 @ 7% per annum from
Friend 1
View Detail

Clicking 'Agree it' will cancel the agreement. The Agreement will be deleted and will no longer appear in 'MY AGREEMENTS' or your profile (see later).

My Profile


Your profile is important because it provides information about how you use the application which may affect whether a friend decides to enter into an agreement with you. The most important information on your profile is the list of current and previous agreements that you have entered into. Each agreement displays the friend that you entered into agreement with and therefore enables a prospective borrower, lender, entrepreneur or investor to connect with them for referencing purposes.

When a friend clicks on your icon (Photo or name) they will be directed to your profile only if they permitted access to it (See Profile visibility below) otherwise they will be directed to your Facebook page. You can view what they will see by clicking on 'My profile' in your menu bar. First there is a summary of your situation in the following panel format.


This page gives the total amounts that you have agreed to borrow, to lend, for funding, and to invest to date and average rates agreed. It also gives a snapshot of your outstanding requests/offers to borrow, lend, for funding, and to invest, offers/requests from friends against them, and average rate offered/requested.

Average rates offered/requested by friends can give an indication of your reputation within your network. For example if you are a borrower and your friends are offering to lend to you at a high average rate then there may be a perception that you are a risky borrower. Conversely if you are a investor and you are being offered a low return on your investment by entrepreneurs within your network then there may be a perceived risk that you may not deliver on an agreement to invest.

By Clicking on each of the orange or green panels you, and others, will be able to view in detail how the amounts you have agreed compare with the amounts that you initially requested or offered . This table gives further potentially useful information about your approach to your financial affairs which may influence a friend's decision to enter into an agreement with you.

For example if you are a borrower and you make a new request to borrow a certain amount. You may be offered multiples of that amount by friends competing for your borrowing particularly if you have sent a request to a large number of friends. If then as a result you take the opportunity to agree to borrow an amount far in excess of the amount you requested, this will be shown in the table and visible to potential lenders. This behaviour may negatively affect decisions by potential lenders to enter into agreements with you by implying that you have are unable to plan your financial requirements and have the potential to overspend and therefore possibly not repay.

AGREEMENTS


Once in 'My Profile' , if you click on 'Agreements' you will be presented with a summary of your agreements to borrow, lend, for funding, and invest. The summary is again in the following format.



This page gives the total amounts to date that you have agreed to borrow, to lend, for funding, and to invest and average rates agreed. It also gives a snapshot of your current agreements and previous agreements (i.e where the repayment date is in the future) and previous agreements (where the repayment date is in the past).

The difference in average rates between your current agreements and previous agreements can also give an indication changes to your reputation within your network. In the above example the borrowers cost of borrowing for previous agreements was 20% however it is now 10% for current agreements. The borrowers cheaper current cost of borrowing would imply that they have made good on previous agreements and are therefore able to secure better terms for current agreements. Their social credit score has improved.

Clicking on each of the coloured panels will give you an itemisation in table format of all of your agreements to borrow, to lend, for funding and to invest respectively as illustrated in the following example.

Agreements to Borrow


Lender Borrowing Agreed Rate Agreed % (p.a.) Start Date Repayment Date Borrowing Received? Borrowing Repaid?

Friend 1
£500 25 22/01/2013 22/01/2014 View Detail

Friend 2
£500 15 22/01/2013 22/01/2014 View Detail

Friend 3
£500 15 22/01/2014 22/01/2015 View Detail
TOTAL AGREED £500 15% (ave)
PREVIOUS AGREEMENTS £1000 20% (ave)
CURRENT AGREEMENTS £1000 10% (ave)

These pages are particularly important for viewers of your profile as it is here that they can view your performance against agreements that you have entered into. In the example above a potential lender can see three previous agreements with Friends 1, 2 and 3. The potential lender can see that Friend 1 and 3 have been repaid however Friend 2 has yet to confirm repayment. By clicking on the icon of either of Friend 2 the potential lender will be connected to their public Facebook pages. The potential lender can also then send them a Facebook message to enquire as to if the potential borrower had made good on their previous agreement.

BORROWING, LENDING, FUNDING and INVESTMENT


Within 'My profile' the buttons on the left hand column show exactly the same information in table format that is found in MY BORROWING, MY LENDING, MY FUNDING and MY INVESTMENT respectively. By viewing these a friend get a complete picture of your current situation before making a decision to enter into an agreement with you.

For example you are a borrower, and you are requesting to borrow £1000 from one set of friends the potential lender viewing your profile being one of them. At the same time you are requesting to borrow £10000 from another group of friends. In this case each potential lender will be aware of your entire borrowing requirement and will be able to base their decision on correct information.

Profile Visibility


Your profile is not made public within Agree it or on Facebook. Your profile is only visible to friends that you choose to view it:
  1. If you make a request to borrow or to seek funding the recipients of your request will have acess to your profile. They can do this by clicking on your name or picture.
  2. If you make an offer to lend or invest then the recipients of your offer will have access to your profile.
  3. If you withdraw a request or an offer then the corresponding recipients will no longer have access to your profile.
  4. If you enter into an agreement with a friend then that friend will no longer have access to your profile and visa versa unless you have other requests or offers outstanding that they are party to.

Your profile will not be visible to anyone except you so long as:
  1. You have made no requests or offers to friends
  2. You withdraw all of your requests and all of your offers.

You may also be thinking will information about me be visible to third parties via the profile of friends that I have entered into agreements with?

The answer is yes however only to a limited extent to allow for referencing as described above in the Agreements section. If you enter into an agreement with a friend then only the agreed amount , rate/profit share and target profit, start date and repayment date will be visible to a third party that may have access to the profile of the friend that you entered into the agreement with.

For example you may initiate a request to borrow £10,000 using |Borrow| and send it to selected friends in your network. In the |Borrow| page you will be required to enter the total amount that you are requesting and a reason/description( this may be personal or a business plan) for the loan and then submit it to your selected friends. If one or more friends respond to your request by making an offer towards your loan. This offer will appear as an item in both your activity of and the activity of your friend. It will also appear in the profile activity of your friend:

A Friend
offered to lend £1,000 @ 7% per annum to
View Detail

If you or any of the recipients of the of your request click on View Detail they will see the full details of your initial request including the total amount that you were looking to borrow and the reason for the loan. This is ok because they were party to your initial request. However if another user, who has access to the profile of the friend that made you an offer (A Friend above) but is not a party to your initial request and does not have access to your profile clicks on View Detail they will not see the full details of your request they will only see the following:

offer to Lend



A Friend
offered to lend £1,000 @ 7% per annum to
from 28/02/2013 to 31/03/2013 £1,005.95 to be repaid on 31/03/2013 Status: Active

The total amount that you requested and the reason/description are not visible. Similarly if you agree to the offer and it now appears in the AGREEMENTS section of your friend's profile then a third party who has access to your friend's profile will only see the following when clicking on View Detail

Agreement to Borrow


On 27/02/2013
agreed to borrow £1,000 @ 7% from
A Friend
from 28/02/2013 to 31/03/2013 £1,005.95 to be repaid on 31/03/2013

This is the minimal amount of information that a third party user may require for referencing purposes (see Agreements section above). If the user wishes to reference you as to whether your mutual friend made good on their loan to you, then they may do so by clicking on your icon. They will then be directed to your public Facebook profile (as they do not have access to your 'Agree it' profile) and will able to message you in that respect.

This way sensitive information such as the total amount requested/offered and description are only visible to friends that are party to your initial request/offer and/or those that have access to your profile. At the same time however minimal information is available to third parties for referencing purposes.

Activity on your Profile


The activity section is in the centre of your profile:
  1. Your profile activity will show all requests and offers that you have initiated by using |Borrow| |Lend| |Seek Funding| and |Invest|.
  2. Your profile activity will also show responses from your friends to requests/offers that you have initiated using |Borrow| |Lend| |Seek Funding| and |Invest| and any agreements that you make as a result.
  3. Your profile activity will show requests/offers that you initiate using 'Make an offer' and 'Make a request' and any resulting agreements.
  4. Your profile activity will however not show requests and offers submitted by your friends using |Borrow| |Lend| |Seek Funding| and |Invest| of which you are a recipient .
  5. If you withdraw a request/offer that you submitted using |Borrow| |Lend| |Seek Funding| and |Invest| then it will no longer appear in your profile activity and any subsequent responses from your friends will also be deleted. Only agreements that you have entered into as a result will remain (see Activity below)
  6. If you withdraw an offer/request that you made in using 'Make an offer' or 'Make a request' then the offer/request will no longer appear in your profile activity. Only agreements that were created as a result will remain (see Activity below).

This way you can experiment with requests and offers (so long as they don't lead to agreements) safe in the knowledge that they will not appear permanently on your profile.

Activity


Now that you have mastered how it all works you will be able to view what's happening in your network in real time!

In the centre of your home page you can view activity in chronological order. You can also view activity of your friends (so long as you have access to their profile as per above).
  1. Your activity will show all requests and offers that you have initiated by using |Borrow| |Lend| |Seek Funding| and |Invest|
  2. Your activity will also show responses from your friends to requests/offers that you have initiated using |Borrow| |Lend| |Seek Funding| and |Invest| and any agreements that you make as a result.
  3. Your activity will show requests and offers submitted by your friends using |Borrow| |Lend| |Seek Funding| and |Invest| of which you are a recipient .
  4. Your activity will show requests/offers that you initiate in response to the above using 'Make an offer' and 'Make a request' and any resulting agreements.
  5. Your activity will even show activity initiated be other users in response requests/offers submitted by your friends using |Borrow| |Lend| |Seek Funding| and |Invest| and any agreements made as a result so long as you were also a recipient of the request/offer. This will be the case even if you have not responded to the request/offer yourself.

You can also respond to activity items, by clicking on the options on each item: view detail, withdraw, make an offer, Agree it.

In order to keep the activity up to date and relevant items will automatically be deleted from activity according to the following:

1. If you withdraw a request/offer that you have initiated using |Borrow| |Lend| |Seek Funding| and |Invest|then the initial request/offer will be deleted from your activity (including profile activity). It will also be deleted from the activity of the friends that you submitted the request/offer to.

All responses from friends to the request/offer that is withdrawn will be deleted from both your and the recipients activity. The only remaining evidence of your initial request/offer will be the 'withdrew request/offer' item as below and this will be deleted on expiry of the initial request/offer.

withdrew request to borrow £1,000 @ 5% per annum
A Friend
View Detail

2. If you withdraw an offer/request that you made by clicking on 'Make an offer' or 'Make a request' then the offer/request that you made will be deleted from your activity (including activity on your profile).

The activity item will also be deleted from the activity of the friend that you made the offer/request to and the activity of other parties to which your friend had submitted the initial request/offer to using 'Borrow, 'Lend' 'Seek Funding' or 'Invest'.

The only remaining evidence of the offer/request that you made will be the 'withdrew request/offer' item as example below and this will be deleted on expiry of the initial request/offer that your friend submitted using 'Borrow','Lend','Seek Funding' or 'Invest'.

withdrew offer to lend £1,000 @ 5% per annum to
A Friend
View Detail

3. If you a request to cancel an agreement and your 'request to cancel' is agreed then both the agreement and the request to cancel are immediately deleted from your profile and activity and also for the counter party to the agreement.

4. If you withdraw a request to cancel an agreement then the request will immediately be deleted from your activity (including activity on your profile) and from the activity of recipient of the request. Unlike withdrawing a request/offer made using 'Borrow', 'Lend' 'Seek funding' or 'Invest' there will be no 'withdrew request' item remaining.

This way your activity dashboard will always remain up to date and relevant. You can also experiment with requests and offers (so long as they don't lead to agreements) safe in the knowledge that they will not appear permanently on your profile.

Experiment!


Why not play around with it yourself. You can initiate out requests to borrow and seek funding or initiate offers to lend or invest and see how your friends respond. You can also invite your friends to have a go. You don't have to agree to anything. If we haven't covered anything here then please drop us a line on the feedback page. We will try to respond as soon as possible.

Good Luck!
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